NOT FOR DISTRIBUTION IN THE UNITED STATES OR FOR DISSEMINATION TO US
NEWS WIRE SERVICES.
TORONTO, Feb. 29, 2012 /CNW/ - Aureus Mining Inc. ("Aureus" or the "Company"), the TSX (AUE) and AIM (AUE) listed exploration and development Company
focused on gold in sub-Saharan Africa, confirms that, on 29 February
2012, its capital consisted of 117,951,476 common shares with voting
rights. On that date, no shares were held in treasury. The total number
of voting rights in the Company is, therefore, 117,951,476.
The above figure (117,951,476) may be used by shareholders as the
denominator for the calculations by which they will determine if they
are required to notify their interest in, or a change to their interest
in, Aureus Mining Inc. under the FSA's Disclosure and Transparency
About Aureus Mining Inc.
The Company's assets include the New Liberty gold deposit in Liberia
(the "New Liberty Gold Project"), which has an estimated Reserve of
873,000 ounces of gold grading 3.1 g/t and an estimated Measured and
Indicated Mineral Resource of 1,086,000 ounces of gold grading 3.6 g/t
and an estimated Inferred Mineral Resource of 483,000 ounces of gold
grading 3.5 g/t. A technical update for the New Liberty gold project
was released in February 2012, de-risking and building on the robust
preliminary economic assessment ("PEA"), filed in December 2010. This
update outlined an improved pre-tax NPV of US$ 260 million based on a
US$ 1,350/oz. average gold price and a discount rate of 8 %, with an 8
year mine life and an average production of 123,000 ounces per year
modelled for the first four years.
The New Liberty Gold Project is located within the Bea Mountain mining
license which covers 457 km2 and has a 25 year, renewable, mineral development agreement. The Bea
Mountain mining license also hosts the proximal gold targets of
Ndablama, Gondoja and Weaju, which are the focus of exploration
programs during 2012 along with the Company's Archaean Gold exploration
license contiguous with and immediately south of the Bea Mountain
mining license and containing the Leopard Rock target.
The Company also has gold assets within exploration properties in
The Company's Qualified Person responsible for preparing this release is
David Reading, who holds a MSc in Economic Geology from University of
Waterloo, Canada and is a Fellow of the Institute of Materials,
Minerals and Mining. David Reading is the President and CEO of Aureus
Mining Inc. and consents to the inclusion in the announcement of the
matters based on their information in the form and context in which it
appears and confirms that this information is accurate and not false or
Assay and sampling information are taken from the Company's database as
prepared on New Liberty site by the project geologists. Drill core is
split on site and sent under custody to the Alex Stewart-OMAC sample
preparation facility in Monrovia where pulps are prepared and
dispatched to the OMAC laboratory in Ireland for analysis by fire assay
with an atomic absorption finish.
Quality control and quality assurance procedures include the regular and
methodical implementation of field duplicates, blank samples, standards
and laboratory repeats as well as regular and specific programmes of
re-assaying and umpire laboratory assaying.
SOURCE Aureus Mining Inc.
For further information:
Aureus Mining Inc.
David Reading / Jeremy Cave
Tel: +44 (0) 20 7257 2930
RBC Capital Markets
Nominated Advisor and Joint Broker: Martin Eales / Richard Hughes / Jonathan Hardy
Tel: +44 (0) 20 7653 4000
GMP Securities Europe LLP
Joint Broker: Richard Greenfield / Alexandra Carse
Tel: +44 (0) 20 7647 2800
Bobby Morse / James Strong
Tel: +44 (0) 20 7466 5000